indie to sell its interest in Wuxi indie Microelectronics
Automotive solutions provider indie has entered into an asset purchase agreement with United Faith Auto-Engineering, a publicly-listed Chinese company, to sell its entire 34.38% outstanding equity interest in Wuxi indie Microelectronics Technology to United Faith.
The transaction is subject to customary closing conditions for a transaction of this type, including shareholder approval from United Faith and receipt of all required regulatory approvals. United Faith will purchase indie’s outstanding equity interest in Wuxi for approximately USD 135 million.
“As indie continues to redefine its vision, with a strong focus on transitioning to higher-value ADAS and automated driver and safety solutions, the sale of Wuxi represents another positive step in our strategic progression,” said Mark Tyndall, executive vice president of corporate development and investor relations, in a press release.
Mr Tyndall continues to say that while the company exits its equity position in Wuxi, China remains an important market for indie, supported by its sales channel. The transaction is expected to close in late 2026.
